Historic properties stand as an important reminder of, and glimpse into, bygone days. But maintaining these structures may present some challenges that leave you longing for a user-friendly time machine to hire some talented craftsmen from the past. Federal rules, like the Standards for the Treatment of Historic Properties, mean you can’t simply tear [...]
A perfect storm of high construction demands, increasing labor and materials costs, labor shortages, supply chain interruptions, inflation, lessening COVID restrictions, and the war in Ukraine have combined to affect the factors that ultimately help determine 2022 property valuations. Let's take a closer look at these trends and where they're headed for 2023 and [...]
Once upon a time (or before 2008), when an organization wanted to insure their full property portfolio, they could streamline their insuring process and secure more complete coverage by getting a true blanket insurance policy. This blanket policy was a single property insurance policy that either covered multiple locations, different types of property at [...]
Underinsurance has always been a concern for organizations striving to mitigate their risk — particularly those with large property portfolios and unique structures, where lots of very specific data must be collected to ensure valuation accuracy. But increasingly, the underinsurance gap has been made even wider by the volatile cost shifts and supply chain [...]
At AssetWorks, we consider ourselves successful when our customers are successful. And in that spirit of collective winning, we’ve been building up our risk management team to keep pace with our customers’ needs for quality services. We started by opening a brand-new San Antonio office in 2022, to better serve the Western U.S. Heading [...]
Organizations talk about the importance of collaboration, communication and information-sharing, but the Silo Effect remains a very real challenge— and it affects everything, including a company’s workflow and ability to manage risk. You’ll recognize it in duplicated efforts, inefficiencies, workarounds, and departments that focus narrowly on their own efforts without examining how they’re a part [...]
COVID-19’s business ramifications extend well-beyond the more popularly-discussed healthcare and restaurant industries. Throughout 2021 and into -22, the construction industry faces skyrocketing costs, presenting significant challenges for new construction projects as well as property repair and replacement work. This, in turn, creates a dilemma for organizations with large property portfolios. How do you place [...]
If you’re looking for a property insurance appraisal, you may have heard that a USPAP appraisal is a highly- trusted way of collecting property valuation data for your annual Statement of Values (SOV). But what is a “USPAP appraisal” and how is it different from a standard appraisal? All About USPAP USPAP [...]
Pop the popcorn and heat the cocoa! As the holidays approach, it’s time to gather together and watch those movies that have become an integral part of many families’ end-of-year traditions. Of course, when you look at them from a risk management perspective, some of them take on a whole new light. So pull [...]
The continuing aftershocks of COVID-19 and their effect on business — particularly in construction and property valuations — is resulting in higher construction costs. Supply chains have been disrupted and the cost for materials in certain areas have skyrocketed. While we can’t predict with any level of certainty what will happen next, it is [...]
